This technical guide explains how to stake with Lido Finance, focusing on the simple process of depositing ETH to receive Lido stETH, a liquid staking token that represents your staked Ethereum.
Step 1: Connecting to the Lido dApp
Navigate to the Lido Finance Official platform. Connect your Ethereum-compatible wallet (e.g., MetaMask). Ensure you have ETH in your wallet that you wish to stake.
Step 2: Understanding Liquid Staking
Traditional ETH staking requires locking 32 ETH and running a validator. Lido liquid staking allows you to stake any amount of ETH and receive stETH in return. This stETH token represents your staked ETH and its accrued rewards, while remaining liquid and usable in other DeFi protocols.
Step 3: Depositing ETH to Mint stETH
On the Lido dApp, enter the amount of ETH you wish to stake.
The interface will display the amount of stETH you will receive. The exchange rate is 1:1, but the value of stETH grows relative to ETH as staking rewards accrue.
Click "Stake" and approve the transaction in your wallet.
Your ETH is now delegated to Lido's network of professional validators, and your stETH is in your wallet. The Lido security model ensures that your staked assets are managed by a decentralized set of operators. For more information, refer to https://sites.google.com/restaking-node-portal.net/lidofinance.
Step 4: Using Your stETH in DeFi
Your stETH automatically accrues staking rewards. You can hold it, use it as collateral in lending protocols, or participate in yield farming on other DEXs, maintaining full liquidity of your staked assets. Lido also supports Lido multi-chain staking for other assets like Solana, Polygon and Polkadot.
Top comments (0)